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Italian Danieli group sign a contract with the Việt
Nam Steel Corporation (VNSteel) on the purchase of a 20% share in Việt Nam’s
first sheet steel plant with an annual capacity of 2 million tons, Hà Nội,
March 11, 2010 |
Mr. Tomasa Andreatta said many Italian enterprises are planning to invest in Vietnamese steel, coffee
and foodstuff industries.
On March 11, the Italian Danieli group officially signed a
contract with the Việt Nam Steel Corporation (VNSteel) on the purchase of a 20%
share in Việt Nam’s
first sheet steel plant with an annual capacity of 2 million tons.
Speaking at the signing ceremony, Deputy Minister of
Industry and Trade Lê Dương Quang said that the project, capitalized at US $ 550
million, would make an important contribution to the steel sector’s development
strategy and meet domestic demand for the product, as well as help reduce the
need for the import of such product.
He added that the project would help boost political and
economic cooperation between Việt Nam
and Italy.
According to Antonello Mordeglia, Danieli Executive Vice
President, the investment is proof of the group’s confidence in Việt Nam’s business
environment and the capacity of its Vietnamese partners.
Last year,
Italian enterprises poured at least US $100 million to Việt Nam, including US $50 million investment
of Piaggio to produce motorbikes and other US $30 million investment of Carvico
to produce elastic fabric.
On the other hand, Việt Nam
exported US $1 billion worth of products, including seafood, garments,
textiles, footwear, pepper and woodwork to Italy.
By Hồng Vân